Sky have announced their financial results for the quarter covering January to March 31st 2011 showing that the company have had strong growth. Last time around, the company broke through the 10 million customer mark, and this has now grown to 10.15 million. 3.2 million of these take broadband with the company adding 155,000 connections in the quarter. 26% of all Sky customers are now on a triple-play package of TV, broadband and telephone. HD is also in strong demand with 3.7 million customers now opting for this, showing a near 50% increase over the last 12 months.
"At a time of significant pressure on household budgets, we have added over 800,000 subscription products as more customers choose Sky for a greater variety of services. Take-up of high definition remains very strong and we have had another excellent quarter in home communications, with 26% of customers saving money by taking all three of TV, broadband and home phone.
The strength of our financial performance has been equally broadly based, with good revenue growth across retail, wholesale and advertising. Strong cost control and continued margin expansion has delivered 24% growth in operating profit and free cash flow is up 60%.
Customers are choosing Sky for a better choice of television and 2011 is shaping up to be our best year yet on screen. Our new channel, Sky Atlantic, has got off to an excellent start with 10 million viewers in the first two months. Alongside Sky 1 and Sky Living, it forms part of an outstanding entertainment line-up that will bring even more value to customers in the months ahead, including a growing commitment to UK drama and comedy."
Jeremy Darroch, (Chief Executive) BSkyB
Overall, Sky profits were up 5% to £261 million. This was with an 8% rise on the average revenue per user (annualised based on the most recent quarter), pushing this to £544 or £45.33 per user per month.
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